Bitmine is launching a $300 million perpetual preferred stock offering, modeled after Strategy’s wildly successful debut, paying investors 9.5% annually in weekly installments funded by staked Ether. With 80% of Strategy’s investors being everyday retail participants, this model shows broad appeal despite crypto’s current slump. Bitmine plans to use proceeds to buy more Ether—already holding 4.7 million worth $8 billion—and scale infrastructure, aiming for 5% of total Ether supply. Chairman calls the dip a temporary blip in Ethereum’s “crypto spring,” betting on long-term strength.
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